Analytics Insight
In a move that underscores his growing focus on digital transformation, Timur Turlov, founder and CEO of Freedom Holding Corp., has significantly expanded his ownership in the Kazakhstani auto-tech startup CTOgram, now holding 41% of the company.
The increase in Timur Turlov’s stake follows a buyout of shares from several early-stage backers, signaling a pivotal moment in CTOgram’s journey from startup to a key player in Kazakhstan’s digital economy. The deal is expected to unlock new growth channels for the platform, particularly through its deeper integration into the Freedom ecosystem.
According to CTOgram CEO and co-founder Zhandos Tursumbayev, the restructuring of the company’s shareholder base opens the door to strategic scaling. “We’ve been fortunate to have the support of excellent early investors who helped us launch and navigate our early years,” said Tursumbayev. “Now, with Timur Turlov becoming the primary shareholder, we’re positioned to build with long-term focus and strategic clarity.”
The exiting investors include regional and international players such as Quest Ventures (Singapore), Most Ventures (Kazakhstan), and private investors including Olzhas Zhienkulov, Talgat Ismail, Anuar Seifullin, and Ruslan Rakymbay. Tursumbayev himself also relinquished part of his stake, aligning ownership more closely with operational priorities.
CTOgram operates as a digital interface between car owners and service providers, helping users find reliable repair shops, book maintenance appointments, and access post-accident services. With over 280,000 users and a partner network of more than 2,000 auto workshops, the app has rapidly become a go-to solution for urban vehicle owners in Kazakhstan.
The company also runs its own chain of fast-repair body shops, focusing on restoring vehicles after traffic accidents — a niche but high-demand segment. Turlov’s involvement has already helped CTOgram accelerate its development in areas like spare parts logistics and API integrations with insurance providers.
This stake expansion is part of a much larger plan. Under Turlov’s leadership, Freedom Holding Corp. is building a regional digital ecosystem — one that brings together financial services, retail, mobility, and insurance under a unified digital umbrella. Dubbed the Freedom SuperApp, the platform aspires to offer a one-stop experience across various aspects of a consumer’s daily life.
“We’re working toward a fully integrated journey for car owners,” said Timur Turlov. “Imagine opening a single app and handling diagnostics, repairs, insurance, and parts in just a few clicks. CTOgram is a critical component in bringing that experience to life.”
Freedom Auto, as a segment of this broader initiative, is set to bridge significant market inefficiencies by digitizing and centralizing services that have traditionally been disjointed and offline.
Timur Turlov is no stranger to investing in scalable, tech-driven platforms. In 2023, he committed $1.5 million to CTOgram at a valuation of $13.5 million. That initial injection of capital helped the company strengthen its backend infrastructure and expand into e-commerce for automotive parts — a vertical that is now one of its fastest-growing revenue sources.
The decision to increase ownership further shows that Turlov sees CTOgram not just as a successful startup, but as a foundational piece in Freedom’s ecosystem architecture.
For Kazakhstan’s startup ecosystem, the story of CTOgram is a compelling one. It demonstrates how local innovation, backed by strategic capital and supported by a vision for digital integration, can gain traction and scale. It’s also a sign that prominent business leaders like Turlov are willing to take calculated risks on homegrown platforms, contributing to the development of a competitive tech economy.
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